After more than 20 years, Atari, a pioneer in the manufacture of video game consoles, is coming back from the dead. Fred Chesnais, CEO, has recently confirmed that his company is developing new video game hardware. It seems that a lot of industry insiders weren't expecting this announcement.

Chesnais announced Atari's return at the E3 2017. He confirmed the plan of his company to get back into making video game hardware particularly game consoles. For the uninitiated, Atari was the first company that popularized video game consoles for the home. But it also triggered the so-called "Video Game Crash" which led to its demise.

There are reports saying that Atari will call its new hardware "Ataribox." It is set to compete with the likes of PS4, Nintendo Switch and XBox One X. According to Chesnais, this new device will come with "PC technology." As such, it will be based on PC hardware.

In appearance, the Ataribox will look very similar to the company's Atari VCS with its iconic faux-wood front panel. This may evoke nostalgia on old-time gamers who used the original Atari console. However, he did not share any information about the technical features and specifications of the game console.

Compared to the sizes of Sony, Microsoft and Nintendo, the Atari Company is small. Therefore, it is not expected that Atari will give these companies a run for their money. Some observers believe that Atari's upcoming console will be just an emulation machine. They believe that it may only be for playing classic video games that were popular in the '70s or the '80s.

While Atari has experienced business difficulties in the past, the company is now financially healthy. It has been taking advantage of its name and history by getting involved in licensing deals. The company has agreed to a deal that will use its iconic logo in the upcoming movie Blade Runner 2049.